Connecticut is helping FuelCell Energy Inc. expand its Torrington manufacturing facility with $20 million in loans and tax credits.
FuelCell expects the project will add as many as 325 jobs in the next four years to its Connecticut workforce of 538 employees. The Danbury-based company manufacturers fuel cell power plants.
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The state Department of Economic and Community Development will lend $10 million at 2 percent interest for 15 years for each phase of the project as FuelCell reaches employment and revenue targets.
FuelCell will be eligible for $5 million in loan forgiveness on the first level of funding if it creates 165 full-time jobs and will qualify for another $5 million in forgiveness if it creates 160 full-time jobs.
The expansion project also may claim up to $10 million in tax credits.